Balmain is H&M's next designer collaboration

This is major!

For those of you wondering which designer H&M is working with next, wonder no more. While on the 2015 Billboard Music Awards red carpet, Balmain Creative Director Olivier Rousteing announced that the French fashion house is collaborating with H&M.

Olivier also arrived with Kendall Jenner and Jourdan Dunn by his side. We assumed both Kendall and Jourdan were wearing Balmain, but both models were actually rocking the first looks from the upcoming collection.

H&M also confirmed on Twitter that the collaboration is set to be released on 5 November. We can't wait!